Kornitzer Capital Management Inc. KS Sells 3,300 Shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Kornitzer Capital Management Inc. KS trimmed its holdings in shares of Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) by 38.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,227 shares of the semiconductor company's stock after selling 3,300 shares during the period. Kornitzer Capital Management Inc. KS's holdings in Monolithic Power Systems were worth $3,032,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Larson Financial Group LLC lifted its position in shares of Monolithic Power Systems by 18.0% during the 1st quarter. Larson Financial Group LLC now owns 8,868 shares of the semiconductor company's stock valued at $5,143,000 after buying an additional 1,350 shares during the last quarter. Wealthfront Advisers LLC lifted its holdings in Monolithic Power Systems by 13.7% in the 1st quarter. Wealthfront Advisers LLC now owns 6,719 shares of the semiconductor company's stock worth $3,897,000 after buying an additional 808 shares during the period. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Monolithic Power Systems by 4.1% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 21,721 shares of the semiconductor company's stock worth $12,597,000 after acquiring an additional 859 shares during the period. Whittier Trust Co. grew its holdings in Monolithic Power Systems by 2.3% in the first quarter. Whittier Trust Co. now owns 42,486 shares of the semiconductor company's stock worth $24,640,000 after purchasing an additional 954 shares during the period. Finally, TimesSquare Capital Management LLC boosted its stake in Monolithic Power Systems by 6.3% in the 1st quarter. TimesSquare Capital Management LLC now owns 145,302 shares of the semiconductor company's stock worth $84,272,000 after purchasing an additional 8,660 shares in the last quarter. 93.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on MPWR shares. Needham & Company LLC reaffirmed a "buy" rating and set a $800.00 target price on shares of Monolithic Power Systems in a report on Friday, May 2nd. KeyCorp increased their target price on shares of Monolithic Power Systems from $820.00 to $940.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $644.00 price objective on shares of Monolithic Power Systems in a research note on Friday, May 2nd. Wells Fargo & Company boosted their price target on Monolithic Power Systems from $695.00 to $730.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Finally, Oppenheimer reiterated an "outperform" rating and set a $800.00 price target (up from $700.00) on shares of Monolithic Power Systems in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $802.33.

Monolithic Power Systems Trading Down 0.2%

NASDAQ MPWR traded down $1.48 on Thursday, reaching $712.55. The company's stock had a trading volume of 261,981 shares, compared to its average volume of 805,566. The firm has a market cap of $34.12 billion, a PE ratio of 18.94, a price-to-earnings-growth ratio of 2.85 and a beta of 1.20. The business has a 50-day moving average price of $706.91 and a 200 day moving average price of $640.22. Monolithic Power Systems, Inc. has a 52 week low of $438.86 and a 52 week high of $959.64.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The semiconductor company reported $4.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.00 by $0.04. The firm had revenue of $637.55 million for the quarter, compared to analysts' expectations of $633.43 million. Monolithic Power Systems had a net margin of 76.59% and a return on equity of 19.80%. The business's revenue for the quarter was up 39.2% on a year-over-year basis. During the same period last year, the firm earned $2.81 earnings per share. Analysts anticipate that Monolithic Power Systems, Inc. will post 13.2 earnings per share for the current fiscal year.

Monolithic Power Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a $1.56 dividend. The ex-dividend date was Monday, June 30th. This represents a $6.24 annualized dividend and a yield of 0.88%. Monolithic Power Systems's dividend payout ratio (DPR) is currently 16.56%.

Insiders Place Their Bets

In other Monolithic Power Systems news, Director Kuo Wei Herbert Chang sold 100 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $698.00, for a total value of $69,800.00. Following the transaction, the director directly owned 676 shares in the company, valued at $471,848. The trade was a 12.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Theodore Blegen sold 6,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $750.00, for a total value of $4,500,000.00. Following the transaction, the chief financial officer owned 46,939 shares in the company, valued at approximately $35,204,250. This trade represents a 11.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,200 shares of company stock valued at $13,046,800 over the last 90 days. 3.40% of the stock is currently owned by insiders.

Monolithic Power Systems Profile

Monolithic Power Systems, Inc engages in the design, development, marketing, and sale of semiconductor-based power electronics solutions for the storage and computing, automotive, enterprise data, consumer, communications, and industrial markets. The company provides direct current (DC) to DC integrated circuits (ICs) that are used to convert and control voltages of various electronic systems, such as cloud-based CPU servers, server artificial intelligence applications, storage applications, commercial notebooks, digital cockpit, power sources, home appliances, 4G and 5G infrastructure, and satellite communications applications.